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Do I have to do KYC?

Hi. He plans to set up an account on the stock exchange and buy some cryptocurrencies, starting with bitcoin. Wherever I try to open an account, the information about KYC is always displayed. Did you have that too? What is this all about? What is all this KYC? They always ask for a scan of an ID or passport. How safe is it and is there any way around it or is it immediate? Thank you in advance for your answer

Hi. He plans to set up an account on the stock exchange and buy some cryptocurrencies, starting with bitcoin. Wherever I try to open an account, the information about KYC is always displayed. Did you have that too? What is this all about? What is all this KYC? They always ask for a scan of an ID or passport. How safe is it and is there any way around it or is it immediate? Thank you in advance for your answer

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A

There are a lot of exchange offices, e.g. on cryps.pl or bitcoin.pl, where you can buy bitcoin without KYC verification, up to PLN 1000 at a time. Alternatively, if you live in a larger city, there is definitely a stationary exchange office that will sell you BTC for cash. Of course, in these cases, the commissions are not the smallest.

There are a lot of exchange offices, e.g. on cryps.pl or bitcoin.pl, where you can buy bitcoin without KYC verification, up to PLN 1000 at a time. Alternatively, if you live in a larger city, there is definitely a stationary exchange office that will sell you BTC for cash. Of course, in these cases, the commissions are not the smallest.

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You can buy cryptocurrencies without verification, up to a certain amount in exchange offices such as, for example, bitcan.pl

You can buy cryptocurrencies without verification, up to a certain amount in exchange offices such as, for example, bitcan.pl

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Yes, KYC stands for "Know Your Customer" and it is a standard procedure aimed at verifying the identity of the customer. It is often required by cryptocurrency exchanges to comply with anti-money laundering (AML) regulations and counter-terrorism financing (CFT). KYC verification may involve submitting a scan of an ID card or passport, as well as additional documents confirming the residential address. This is a standard security procedure to prevent fraud and ensure the legality of transactions. I do not recommend attempting to bypass the KYC procedure, as it may expose you to the risk of losing funds and account freezing. This is a standard procedure that must be completed in order to use cryptocurrency exchange services legally and safely. I hope this answer helped you. Good luck with creating an account and investing in cryptocurrencies!
Yes, KYC stands for "Know Your Customer" and it is a standard procedure aimed at verifying the identity of the customer. It is often required by cryptocurrency exchanges to comply with anti-money laundering (AML) regulations and counter-terrorism financing (CFT). KYC verification may involve submitting a scan of an ID card or passport, as well as additional documents confirming the residential address. This is a standard security procedure to prevent fraud and ensure the legality of transactions. I do not recommend attempting to bypass the KYC procedure, as it may expose you to the risk of losing funds and account freezing. This is a standard procedure that must be completed in order to use cryptocurrency exchange services legally and safely. I hope this answer helped you. Good luck with creating an account and investing in cryptocurrencies!

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